The Emerging Trend in Banking Sector – Green Banking

The climate change occurrence has led to a ruthless cycle of negative consequences. Our economy, social structure and environment are being affected by it. This global phenomenon of changing climate needs urgent attention. Banking sector is generally considered as environmental friendly sector in terms of the pollutions and emissions. To fulfil the objective of fast economic growth without compromising the climate, banking institutions are playing an important role. These kinds of banking strategies are invented as Green Banking. Green Banking promotes eco-friendly practices to reduce carbon footprint and also explained their customers with the help of different schemes and initiatives. It’s similar to a traditional bank because it examines all social, environmental, and ecological concerns with the goal of protection and conservation of natural resources and the environment. Government of India has increased its focus on green banking and finance by introducing Green Banking has been boosting to improve the environment and promoting economic growth schemes which promote green banking in different sectors such as electric vehicles, priority sector lending scheme etc.